04-29-85 Council Meeting Minutes

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REGULAR MEETING APRIL 29, 1985 SECTION II. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. /s/ Beverlie J. Beck Member of the Common Council A public hearing was held on the resolution at this time. Tom Gibson of the Holladay Corporation, indicated this abatement would be used for a facility to house Montgomery Wards Telemarketing Operations. He indicated 280 new jobs will be created. Council Member Zakrzewski made a motion to adopt this resolution, seconded by Council Member Taylor. The resolution was adopted by a roll call vote of nine ayes. RESOLUTION NO. 1281 -85 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, RECOMMENDING THAT THE REQUEST MADE BY HIGH TECH MANUFACTURING PRODUCTS BE ACTED UPON FAVORABLY BY THE BUSINESS DEVELOPMENT CORPORATION. WHEREAS, it has come to the Common Council's attention that High Tech Manufacturing Products is seeking financial assistance through the Business Development Corporation; and WHEREAS, High Tech is the only minority owned and operated lawn and garden supplier; and WHEREAS, this business has been in operation for almost two (2) years and is located at 408 West Sample in the Studebaker Corridor which is in an Enterprise Zone. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council requests that the request made by High Tech Manufacturing Products be acted upon favorably by the Business Development Corporation. SECTION II. The Council requests that a copy of this Resolution be sent to the BDC by the City Clerk's Office. SECTION III. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. /s/ Thomas Zakrzewski Member of the Common Council /s/ Eugenia Braboy Member of the Common Council A public hearing was held on the resolution at this time. Council Members Zakrzewski and Braboy indicated that High Tech Manufacturing is seeking financial assistance through the Business Development Corporation. They indicated that High Tech was located in the Studebaker Corridor and they are the only minority owned and operated lawn and garden supplier. Council Member Zakrzewski read the resolution. Council Member Serge made a motion to adopt this resolution, seconded by Council Member Taylor. The resolution was adopted by a roll call vote of nine ayes. RESOLUTION NO. 1282 -85 AN INDUCEMENT RESOLUTION OF THE CITY OF SOUTH BEND, INDIANA, RELATING TO: THOMAS MITTLER, D /B /A/ T.A.N.K.S., PROJECT. WHEREAS, at the present time there are insufficient employment opportunities and insufficient diversification of business, commerce and industry in and near the city of South Bend, Indiana (the "City "); and WHEREAS, the economic welfare of the City would be benefited by the acquisition of economic development facilities in the corporate limits of the City pursuant to the provisions of Indiana Code 36 -7 -12 (the "Act "); and WHEREAS, Thomas W. Mittler, d /b /a T.A.N.K.S., an Indiana resident, proposes to acquire economic development facilities in South Bend, Indiana as defined in the Act if the City will finance costs of such economic development facilities pursuant to the Act; and WHEREAS, the South Bend Economic Development Commission has received an application by Thomas W. Mittler, d /b /a T.A.N.K.S., for the issuance of City of South Bend Industrial Developmetn Revenue Bonds in the approximate principal amount of One Million Two Hundred Fifty Thousand and no /100 Dollars ($1,250,000.00), to be repaid at 70% of the National Prime Rate rounded off to the nearest quarter point, with the proceeds of the bonds being used to acquire economic development facilities to be based and located in South Bend, Indiana, which will result in the creation of new jobs in and near South Bend, Indiana. NOW, THEREFORE, the Common Council of the City of South Bend, Indiana resolves as follows: